Copart (NASDAQ:CPRT) Hits New 12-Month Low – Time to Sell?

Shares of Copart, Inc. (NASDAQ:CPRT) hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $26.74 and last traded at $26.8740, with a volume of 3115517 shares changing hands. The stock had previously closed at $27.22.

Analyst Upgrades and Downgrades

Several analysts have commented on CPRT shares. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Copart in a research report on Thursday, September 3rd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Barclays set a $25.00 target price on Copart and gave the stock an “underweight” rating in a report on Wednesday, August 26th. JPMorgan Chase & Co. upgraded Copart from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $32.00 to $40.00 in a research report on Thursday, September 3rd. Finally, Barrington Research raised Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Friday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Copart has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Copart Stock Down 0.5%

The company has a fifty day simple moving average of $30.62 and a two-hundred day simple moving average of $31.42. The stock has a market capitalization of $25.07 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%.The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts forecast that Copart, Inc. will post 1.65 earnings per share for the current year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

Several institutional investors have recently added to or reduced their stakes in CPRT. QRG Capital Management Inc. increased its holdings in Copart by 122.9% during the 2nd quarter. QRG Capital Management Inc. now owns 268,812 shares of the business services provider’s stock worth $7,578,000 after purchasing an additional 148,221 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Copart by 356.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 61,526 shares of the business services provider’s stock worth $1,734,000 after buying an additional 48,061 shares during the period. Silicon Valley Capital Partners bought a new position in shares of Copart during the second quarter worth about $246,000. Anchor Investment Management LLC raised its position in Copart by 58.6% in the 2nd quarter. Anchor Investment Management LLC now owns 27,943 shares of the business services provider’s stock valued at $788,000 after buying an additional 10,330 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC raised its position in Copart by 14,062.5% in the 2nd quarter. Cherry Tree Wealth Management LLC now owns 1,133 shares of the business services provider’s stock valued at $32,000 after buying an additional 1,125 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Company Profile

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.